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Berkadia $6 billion multi-purchase ABCP placement closes

Arranger Fleet Securities has closed on the Berkadia/Finova bailout-loan syndication, placing the receivables into 18 asset-backed commercial paper conduits.

Fleet was able to raise approximately $6 billion through the deal, which is structured as a five-year co-purchase securitization facility enhanced by a triple-A guarantee from Berkshire Hathaway, which is...

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